Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Editor's Pick Market Research

Lithium-ion Battery Market worth $135.1 billion by 2031

Urja Daily by Urja Daily
September 7, 2022
in Market Research
Reading Time: 3 mins read
0
Li-ion Battery
Share on FacebookShare on TwitterShare on Linkedin

CHICAGO : Lithium-ion battery market size is estimated to be USD 44.5 billion in 2022 and is projected to reach USD 135.1 billion by 2031, at a CAGR of 13.1%, according to a new report by MarketsandMarkets™. The plug-in vehicles is highly adopting lithium-ion batteries and rising development in smart electronic device is also another factor driving the demand for the lithium-ion battery market. Additionally, the manufacturers of lithium-ion batteries are highly focusing towards product advancement which is also expected to spur the growth of the market during the forecast period.

Lithium Nickel Manganese Cobalt Oxide holds the second-largest market share in 2021

RELATED POSTS

Regional Trends Driving Growth in the Electric Lunch Box Market

Electric Vehicle Motor Market: A Key Driver of the Global Clean Mobility Revolution

Lithium Nickel Manganese Cobalt Oxide segment in the lithium-ion battery market was valued at USD 9.8 billion in 2021. The growth of the segment is attributed to the increasing adoption of Li-NMC in electric vehicles due to its very low self-heating rate. It is also used for power tools, medical equipment, and other electric powertrains. Li-NMC batteries can be used for a multitude of applications, ranging from applications in the automotive industry to ESS. The Li-NMC are fireproof batteries; therefore, they can be used as uninterrupted power supplies and can also be installed in residential applications for home battery storage along with solar photovoltaic cells.

Lithium-ion batteries with capacity ranging from 3,000 – 10,000 mAh are highly adopted by end-users

Lithium-ion batteries with capacity of 3,000 – 10,000 mAh is highly adopted in various industries such as automotive, consumer electronics, and aerospace. These batteries are often grouped together to form modules which are used in applications requiring heavy loads such as electric vehicles, industrial applications, robots, medical applications, GEO and LEO satellites, hybrid trucks, trains, and power backup. Batteries in this range are available in cylinder, prismatic, and battery pack formats.

High (above 36V) segment dominated the lithium-ion market in 2021

Batteries with high voltage i.e. of above 36V are highly preferred in applications such as power, military, electric vehicles, marine, huge machinery, and telecom. These high voltage lithium-ion batteries are also utilized to power electrical systems for some aerospace applications as these batteries are low in weight, which directly reduces the overall weight of aircraft.

Automotive industry dominated the lithium-ion battery market in 2021

The automotive segment is expected to be one of the major adopters of lithium-ion batteries. Battery-driven vehicles such as hybrid electric vehicles and plug-in hybrid electric vehicles are major consumers of lithium-ion batteries. Increasing adoption and awareness of hybrid electric vehicles and plug-in hybrid electric vehicles supports the growth of the lithium-ion battery market. The automotive industry is the main driver for the growth of the lithium-ion battery market in Europe and the Asia Pacific. The UK is undertaking initiatives for the growth of the market for EVs, which is expected to support the growth of the market.

The lithium-ion battery market in Asia Pacific is the largest dominating region in 2021

The growth of the regional market can be attributed to the prominent presence of a large number of market players, such as LG Chem (South Korea); BAK Power Battery Co., Ltd. (China), GS Yuasa International Ltd. (Japan), SAMSUNG SDI CO., LTD. (South Korea); Contemporary Amperex Technology Co., Limited. (China); Panasonic Holdings Corporation (Japan), BYD Company Ltd. (China) in the region. The China is one of the major contributors to regional market growth. Along with the presence of numerous established players in the lithium-ion battery market, several local or domestic players are also present in the country, which is expected to create immense market growth opportunities in the coming years.

Major companies operating in this lithium-ion battery market include LG Chem (South Korea); SAMSUNG SDI CO., LTD. (South Korea); Contemporary Amperex Technology Co., Limited. (China); Panasonic Holdings Corporation (Japan), BYD Company Ltd. (China).

Tags: Lithium-Ion BatteryMarketsandMarketssmart electronic device
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

electric lunch box market

Regional Trends Driving Growth in the Electric Lunch Box Market

by Palak
August 7, 2025
0

In a world increasingly driven by convenience, sustainability, and mobility, the Electric Lunch Box Market has emerged as a practical...

Electric Vehicle

Electric Vehicle Motor Market: A Key Driver of the Global Clean Mobility Revolution

by Palak
July 28, 2025
0

The transition to sustainable mobility is being powered by more than just batteries and charging infrastructure. At the heart of...

Battery Production Machine Market

Regional Insights on the Expanding Battery Production Machine Market

by Palak
July 17, 2025
0

As the global demand for electric vehicles (EVs), consumer electronics, and renewable energy storage surges, the Battery Production Machine Market is experiencing...

Solar-Powered Cold Storage Market

Solar-Powered Cold Storage Market to Reach USD 355.74 Billion by 2034, Growing at 10.9% CAGR

by Palak
July 16, 2025
0

With rising concerns over food waste, energy costs, and climate change, solar-powered cold storage is emerging as a transformative solution....

Smart Homes

The Future of Smart Homes: Voice Tech, IoT, and Emerging Innovations

by Palak
July 10, 2025
0

Smart homes have swiftly evolved from luxury novelties into everyday essentials. What started with simple automated lighting has now grown...

Next Post
Ballard hydrogen trains

Ballard To Power India's First Hydrogen Train

Wind Turbine

Wind Energy Market Size Worth USD 1,36,544 Million by 2028

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Mr.Maharana Ray

OPG Mobility Appoints Maharana Ray as President & Chief Growth Officer to Drive Strategic Expansion

August 8, 2025
KPI Green

KPI Green Bags Solar BoS Order from ABRL

August 8, 2025

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

OPG Mobility Appoints Maharana Ray as President & Chief Growth Officer to Drive Strategic Expansion

KPI Green Bags Solar BoS Order from ABRL

Hindustan Power Signs PPA with UPPCL for 435 MW DC Solar Project

Energy Vault to Deliver Battery Energy Storage Systems for Projects in Michigan

Italy Launches €15.9 Million Tender to Boost Solar Energy Deployment

EIFO Commits £500 Million Financing for UK Offshore Wind Project

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved